Alejandro_Garcia_Padilla_-cropped

Puerto Rico governor declares debts “not payable” By David Brown

On Sunday evening the governor of Puerto Rico, Alejandro García Padilla of the Popular Democratic Party, announced that the US commonwealth would need to restructure its $72 billion in debt. The island of 3.5 million people has been in a deep economic crisis since 2006, experiencing high unemployment, large-scale emigration and severe austerity measures. Between 2004 and 2014 Puerto Rico …